Mr. V P Shetty

Non-Executive Chairman

Mr. V P Shetty is the Chairman of JM Financial Asset Reconstruction Company Limited, JM Financial Asset Management Company Limited and JM Financial Home Loans Limited.

Mr. Shetty has had an illustrious banking career spanning almost four decades. He has worked in the top echelons at major nationalized banks. He has worked as Chairman and Managing Director in UCO Bank, Canara Bank and IDBI Bank. He has also served on the Board of Life Insurance Corporation of India, General Insurance Company, IDFC Ltd. and National Insurance Company. His expertise lies in commercial banking, M&A in banking, corporate governance and turnaround management especially in the public sector.

He was the Chairman and Managing Director of IDBI Bank from March 2005 till his retirement in June, 2007. During his stint at the bank, he successfully undertook the sequential integration of IDBI Bank (April 2005) and the United Western Bank (October 2006) with IDBI Ltd.

Prior to IDBI Bank, he led Canara Bank as its Chairman and Managing Director from November 2004 to March 2005 where he achieved remarkable growth in the corporate and retail sector.

He was appointed as the Executive Director of UCO Bank in October 1999. During this tenure, he not only turned around the bank but he also brought it to a more respectable position in the financial sector. The bank posted a net profit for the first time in 11 years. Subsequently, he was promoted as Chairman and Managing Director of UCO Bank in October 2000. He was awarded the "Banker of the Year- 2003" by the Business Standard Group for his successful turnaround of UCO Bank.

Mr. Shetty joined Vijaya Bank as an Officer in 1973 and rose to the position of General Manager before joining UCO Bank in 1999.

He started his banking career with Canara Bank and worked there for a period of four years from 1968 to 1973.

Mr. Shetty was also a Member of the Governing Council of Banking Codes & Standards Board of India (BCSBI) and Chairman of Indian Bank’s Association during the period 2006-07. He was also the Chairman of the Wage Negotiation Committee – Bipartite Settlement (8th) (IBA).